Sumitomo Mitsui Trust Group Inc. Decreases Position in Manhattan Associates, Inc. $MANH

Sumitomo Mitsui Trust Group Inc. lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 24.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,616 shares of the software maker’s stock after selling 115,572 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.58% of Manhattan Associates worth $69,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MANH. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Manhattan Associates by 177.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,749 shares of the software maker’s stock valued at $1,341,000 after purchasing an additional 4,957 shares during the period. KBC Group NV increased its holdings in shares of Manhattan Associates by 33.9% in the first quarter. KBC Group NV now owns 126,093 shares of the software maker’s stock valued at $21,819,000 after purchasing an additional 31,892 shares during the period. Hills Bank & Trust Co increased its holdings in shares of Manhattan Associates by 34.9% in the first quarter. Hills Bank & Trust Co now owns 2,194 shares of the software maker’s stock valued at $380,000 after purchasing an additional 568 shares during the period. Hixon Zuercher LLC increased its holdings in shares of Manhattan Associates by 24.9% in the first quarter. Hixon Zuercher LLC now owns 8,347 shares of the software maker’s stock valued at $1,444,000 after purchasing an additional 1,665 shares during the period. Finally, Rovin Capital UT ADV acquired a new position in shares of Manhattan Associates in the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

In other news, Chairman Eddie Capel sold 37,342 shares of Manhattan Associates stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the transaction, the chairman directly owned 162,988 shares of the company’s stock, valued at $36,212,673.84. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director owned 11,907 shares in the company, valued at approximately $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Up 0.1%

NASDAQ MANH opened at $194.85 on Monday. The business’s 50-day moving average price is $208.78 and its 200 day moving average price is $198.42. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a market capitalization of $11.78 billion, a PE ratio of 55.51 and a beta of 1.12.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 21st. The software maker reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.18. Manhattan Associates had a return on equity of 78.80% and a net margin of 20.25%.The firm had revenue of $275.80 million for the quarter, compared to the consensus estimate of $271.66 million. During the same period in the prior year, the business posted $1.35 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.950-4.970 EPS. Equities analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MANH shares. Stifel Nicolaus dropped their price objective on Manhattan Associates from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Morgan Stanley set a $200.00 price objective on Manhattan Associates and gave the stock an “equal weight” rating in a report on Wednesday. Raymond James Financial dropped their price objective on Manhattan Associates from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays dropped their price objective on Manhattan Associates from $247.00 to $244.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Loop Capital upped their price objective on Manhattan Associates from $170.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $222.83.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.